LONDON (MarketWatch) -- Inter-bank lending rates continued to drop on Thursday as money markets continue to move toward more normal conditions. Three-month LIBOR rates for U.S. dollars fell to 2.3875% from 2.51%, well off the highs of 4.82% reached last month. The LIBOR rates reduction came ahead of the interest rate cuts announced by the Bank of England, the Swiss National Bank and the European Central bank.
